Ride Sharers, Do You Know Your Insurance Coverages?

Ride Sharing and Insurance

Insurance companies are changing their policies to maneuver around ride-sharing incidents.

Uber, Lyft, Ride Share – the industry of ride-sharing has blown up! Drivers are (often) paid better than minimum wage, have no set schedule, and get to meet all sorts of people along the way. The general public have loved this invention too! A price of an Uber lift is a fraction of what a taxi cab fare would be!

Even though are a wealth of positives, there is a genuine need to understand the potential risk involved in being a part of these businesses! With the rise of ride-sharing comes the rise of accidents and incidents. Many insurers are adjusting their policies to exclude the time of personal ride-sharing.

Uber’s insurance policy is as follows:

  • Offline: Your chosen insurance company and coverages apply
  • Period 1 (Waiting for a lift request):
    • Uber provides insurance for liability: $50K injury/ $100K total/ $25K property
  • Period 2 (En route to a lift request):
    • $1M liability,
    • $1M uninsured/underinsured motorist injury
    • Contingent Collision and Comprehensive (up to actual cash value with 1K deductible)
  • Period 3 (Driving with rider in car):
    • $1M liability,
    • $1M uninsured/underinsured motorist injury
    • Contingent Collision and Comprehensive (up to actual cash value with 1K deductible

Now that you’re aware of what insurance policy Uber provides while you’re driving, talk to your insurance agent to attain coverage for all other instances. Contact Risk Management LLC in Brookfield, Wisconsin for the best auto insurance policy for you!

  • Risk Management assisted me in determining the best insurance coverage to match my business’ risks. Not only did their professional staff spend ample time meeting with me to understand my business, but they continue to follow up with a phone call on a regular basis. I’d consider each of the members on the Risk Management team a true asset in my corner, as they assist to resolve complex insurance issues including GL, Med-pay, business interruption, unemployment insurance, and most importantly, claims management. Their ongoing research in the insurance industry allows my rates and coverage’s to be best in in class, which helps me to remain competitive in my industry.

    -Steve, S. former owner of Helium Trampoline Park

  • “When we want develop partnerships with vendors, the deciding factor is always based on a single question…Do they pick up their phone? At Risk Management, they pick up their phone. In the indoor trampoline park industry, we have dealt with several insurance agencies that were always more concerned about their commission, not building a business relationship or serving our needs. On more than one occasion, Risk Management has stepped in and helped us with carrier/policies issues that the incumbent agencies had dropped the ball on. There was no financial reward for Risk Management in these situations, they see a problem and help fix it. They just do business the right way. Steve Young and his team at Risk Management represent us, not the carrier. We highly recommend Risk Management.”

    -Mark M. Operations Manager,CEO Fun Palace Place

Address: 21420 W. Greenfield Ave Ste 100
New Berlin, WI 53146
(262) 785-8930
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